Phil Cannella Interviews Andrew Huszar: Part 4

Phil Cannella – Phillip Cannella News

Phil Cannella: “So you believe The Fed has become

increasingly tied to Wall Street?”

Andrew Huszar: “I do, but I believe there is a larger issue, which is that I think The Fed feels as if it’s the only game in town in trying to help what is a very poor economic picture in America. And so Congress is gridlocked, we’re not getting a lot of creative policy making from the executives in terms of real structural reforms in the U.S., and so The Fed feels like it’s the only game in town, and because The Fed basically can only operate through Wall Street, its policies are going to benefit Wall Street disproportionately, and so we are seeing what is effectively a doubling down on an ongoing bailout of the banks with the hope that’s going to help the average American, but my contention is The Fed doesn’t have the tools to help, and in some ways its creating formal complacency about the average American and the fact that the average income in America is back to what it was in 1995… we’re going backwards.”
Phil Cannella: “Is Quantitative Easing going to end well for America?”

Andrew Huszar: “I believe in Government. I believe in smart Government, and I think what The Fed is doing and what we’re seeing in the rest of the Government, it’s just not smart Government. If you think of the U.S. economy as a business, we’re not dealing with our issues. We’re just kicking the can down the road and this is probably not going to end well in a number of different ways.”

Phil Cannella: “Do you think the economy can support the heights of the market?”

Andrew Huszar: “Fundamentally I don’t because I think what you have in the U.S. is a U.S. economy that is 70% dependent on consumer spending, and yet as I just mentioned the average U.S. consumer is hurting. And so unless we actually do some work to improve the underlying economy, this stock market is going to look increasingly bubble-like. As long as The Fed is going to keep pumping money into Wall Street, and some of that money gets into the stock market, it will keep that market going, but more and more, that market looks as if it’s being driven more by The Fed pumping money into financial markets, into Wall Street rather than the underlying performance of our economy, and that can’t go on forever.”

Hear more from the interview with Phil Cannella and Andrew Huszar on The Crash Proof Retirement Show®. Saturdays at 11am and Sundays at 1pm on Talk Radio 1210AM, WPHT!

One thought on “Phil Cannella Interviews Andrew Huszar: Part 4

  • Phil Cannella

    Phil Cannella – Champion of Consumer Advocacy
    With the uncertainty and volatility of the market, Phil Cannella, with First Senior Financial Group, prides himself on ensuring a safe retirement future for senior consumers. With an unparalleled devotion to educating seniors, Phil Cannella works endlessly to know and understand the ever changing tax laws and economic changes that can adversely affect one’s nest egg. Thousands of senior citizens have gone through First Senior Financial Group’s education process and learned how to have up to an 85% tax free retirement income.
    As if that isn’t reason enough to respect Phil Cannella, the truly amazing thing about how he runs First Senior Financial Group is that he never takes a dime from the seniors who come to him to be educated. Everything he teaches and everything he offers comes free of charge. That is the true mark of a consumer advocate, someone who cares enough to help you without asking for anything in return.

Comments are closed.